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The agreement is for the acquisition of Avramar Greece's debt, but upon closing, the Canadian family-owned company will also acquire operational control.

The sea bass farmer has reached an agreement with Antonio de Miguel, a leading company in the distribution of selected seafood products in Spain.

Avramar, the largest aquaculture producer in the Mediterranean, is undergoing significant restructuring and refinancing in the wake of rising costs.

The interim financing agreement was a prerequisite for the sale of the Spanish-Greek group, the largest aquaculture company in the Mediterranean.

Previously, he worked for AMERRA Capital Management and US-based feed giant Cargill.

Deloitte is looking for a solution to allow the uninterrupted continuation of the business activity in addition to the management of Avramar's debt, which amounts to EUR 450 million.